How many of you have exaggerated income on an app?

[morgacj2004]

I have not had to show proof of income ever for a CC and have not done so for my last 4-5 auto loans.

[Anonymous]

When I applied for my discover card, they wanted me to call in immediately. Rep went over everything then asked about income...she said "all available income including husband, child support..etc" Told her I own my house with my fiancé and I will be married by 2015..she said that is perfectly fine. When I was in line at lowes..the person in front of me was applying and the person at the register said the same thing. As long as you feel like you can prove it, it will be fine. If it's in my bank account, it's considered mine.

[IncrsCreditScore1]

Have never exaggerated income.  What would be the point in doing that?  It is an easy acquirable piece of information.  Lying about it is tantamount to being denied.

[mikelo22]

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@IncrsCreditScore wrote:

Have never exaggerated income.  What would be the point in doing that?  It is an easy acquirable piece of information.  Lying about it is tantamount to being denied.

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Except it's not so easily acquirable.  Not everyone pays Credit Card bills via income, which is what most CCC's would ask for.  Much of my "income" comes from savings accounts, stocks, CD's, and money markets.  Furthermore, the notion of Household income, where you can include your spouse's income, is another thing altogether.  

Sure, it's not smart to just make up a number out of thin air.  But if your numbers are logically related to some degree, and you do indeed have the ability to pay your debts, CCC's are not going to care.  

Rather than lying leading to being denied, I see it the other way around.  Sometimes fudging your numbers, like including Household income where you normally wouldn't, is what it takes to get accepted.  Especially when they always ask for your mortgage or rent payment when, in reality, both you and your spouse are probably both helping pay off such debts. 

This scenario isn't so black and white as it seems as others have stated. 

[FeeBear]

I always under-report by 20 to 30k, we been lucky with bonuses but they aren't guaranteed.

fee

[dt3813]

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@Anonymous wrote:

Not sure if anyone that has done this would say so but I'm just curious. Seems like it would be very easy since they don't ask for proof of income. And I'm sure people that have higher income get higher limits. I'm just wondering what would happen if someone that makes 30k/year stated income as 80k/yr on a credit card app. I've never done it and don't plan to, but the thought crossed my mind over the last few days while I was in my mini app spree. 

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when I applied for cap1 I said what my income was. I was asked to verify....I sent my taxes and they sent a card.  I was honest in the app, but I have a high income that looked embellished.  So sometimes they do want documents.

[Anonymous]

Up until the last ten years, I always put ALOT more down than I made. I'd routinely put 100K when I was making half that. Never really thought about it, and never had a single lender request proof. Only now that I'm making 150K do I actually put 150K down. I don't exaggerate anymore, and I have had a few, especially Credit Unions, ask for pay stubs. Call me an idiot, I just assumed everyone exaggerated their income when I was younger. From what I've read, if you request a CL increase and they ask for proof of income, if you don't provide it, they don't close your account, they just won't give you the increase.

[Anonymous]

I put my income calculate by hourly pay x 160 x 12 = income.
So it's not perfectly accurate but close to what I make. I don't feel like I need to exaggerate what I make, but I will put my current income based on raise I received.

[kdm31091]

I wouldn't do it, personally. As the OP stated it is fairly easy to get away with initially, as there is nothing requiring proof. Down the road though, when you ask for a CLI, or if the issuer just decides to review you for whatever reason (which they can), you could be in trouble.

Not really worth it. Primarily, the application just follows the honor system. Anyone could just put 100k as their income, but if the issuer wants verification, you're screwed and maybe even blacklisted for your dishonesty. If your income truly doesn't allow a certain card, then don't get it. Not the end of the world, and certainly not worth falsifying applications.

[Anonymous]

I add my fiancées income on my applications, we have a joint bank account and both use the cards. We also receive rent money which I include also include. The one thing I have not included is student loan or grant money, even though I know that I am going to routinely receive it for the next several years.. I also don't have an exact number on my bonus and overtime numbers each year. So I truly gross about 48000 claim 50000.. And put my full rent payment down.